Blowout cargo revenue helps United Airlines beat Q2 expectations
105% gain offsets slight miss in passenger business 3 minutes read A United Airlines 737 Next Generation jet takes off from George Bush Intercontinental Airport in Houston. (Photo: Jim Allen/FreightWaves)
United Airlines (NASDAQ: UAL) impressed a year ago when cargo sales jumped 36% during the early stages of the COVID pandemic. That was merely a warmup for the 2021 second quarter when the passenger carrier more than doubled cargo revenue to $606 million from the 2019 benchmark period.
For the first half of 2021, United Cargo pulled in $1.1 billion, an 89% increase from two years ago, according to financial results released after the market closed on Tuesday.
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By Jon Hemmerdinger2021-06-03T12:53:00+01:00
United Airlines has agreed to purchase 15 of Boom Supersonic’s in-development faster-than-sound airliner Overture, joining at least two other airlines that have partnered with Boom.
A “commercial agreement” between Chicago-based United and Denver-based Boom calls for the airline to buy 15 of the jets “once Overture meets United’s demanding safety, operating and sustainability requirements”, United says on 3 June.
The carrier has taken options to purchase an additional 35 Overtures.
Source: Boom Supersonic
Boom Supersonic’s conceptual airliner Overture in United Airlines’ colours
While the deal throws fresh momentum behind Boom, it comes one week after competitor Aerion announced it was folding amid financial pressure. Aerion’s struggle highlighted the extreme financial burden required to bring a supersonic airliner from concept to certification.